Quirky uses its online community to select and refine ideas into marketable products. Each week, the company chooses the best ideas submitted via the Internet. The ideas are then fine-tuned by the company’s 250,000 members and its own product experts, who worked for companies such as Procter & Gamble Co., Royal Philips Electronics and Oxo. The finished products are sold by retailers such as Bed, Bath & Beyond Inc., Staples Inc. and Target Corp., as well as on Quirky.com.

The company has launched more than 200 products since it was founded in 2009. Its best-sellers include a flexible power strip, crate-storage systems and electronics-cable organizers. The new funds will help it expand into toys, electronics, transportation and even medical devices, founder and Chief Executive Ben Kaufman said.